Attorneys for Collecting Judgment Liens in Pennsylvania
Winning a judgment against a business debtor is only a single step in the process to obtaining the compensation owed to your company. Now, the business has to enforce the judgment and compel the debtor to remit payment. How can you make that happen, when you have daily operational concerns to manage plus all the other management decisions that come with being an executive officer or sole proprietor? Contacting experienced business debt collection attorneys in Pennsylvania can lift that burden from your shoulders, and allow you to get back what you’re passionate about – your company’s success.
Our legal team will discuss your judgment, and the best options going forward to resolve this matter effectively and with little hassle.
Liens on Property for Payment of Judgments
One of the more effective methods of judgment collection is a lien on business or personal property. In Pennsylvania, the court allows us to use this legal device to attach your business debt to the property’s value, essentially allowing our attorneys to recoup sums unpaid when the owner sells. The judgment is in itself a lien against the debtor’s property, which the court grants from the moment our law firm won in court on your behalf. Before the seller receives any payment from the sale of attached property, we recover the amount of the lien.
- Judgment Good for Five Years – in Pennsylvania, we can attach a judgment lien to property for up to five years. This remains the case even if the property changes hands by means other than a sale. Our attorneys can file appropriate paperwork to renew the judgment for an additional five-year period, and continue our commercial debt collection efforts.
- Real Estate Only – PA law does not allow attachment of personal property, including heirlooms or jewelry. We’ll pursue liens on any available property owned by the debtor in question to satisfy the judgment.
Debtor’s Credit Can Complicate Collection
The state of the debtor’s finances can affect your ability to collect on a judgment lien. That’s why our attorneys conduct a thorough investigation of the debtor’s credit background, including a check into any bankruptcy proceedings or the existence of previous liens on real property. We want to make sure your business has every opportunity to collect on the amount owed, and that your path to recovering money is as stress free as possible.
The law allows you to collect the amount owed plus interest, which in Pennsylvania is 6 percent of the total. Our lawyers will work to see that every last dollar promised to you is collected, and that you recover as much of what you’re owed as possible in a reasonable amount of time. Not all collection actions are right for every business, so it’s important to tailor our legal strategy to meet the needs of your company and its current situation.
If you have questions, and want experienced attorneys looking after your commercial debt collection affairs, call us today at (610) 889-3200.